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Web and phone-based search engine company Just Dial’s IPO sailed through on Wednesday after being subscribed 11.7 times. This was largely on the back of enthusiastic response from QIBs, who subscribed to over 200 per cent (on the NSE alone) of the issue reserved for their category. Meanwhile, non-institutional investors and retail investors, despite the company coming out with safety net mechanism, remained somewhat lukewarm to the issue, according to data on the NSE.
The company received total bids for 15.77 crore shares against the total offer size of 1.35 crore shares, according to latest data on the NSE.
It has fixed the issue price band at Rs 470-543 and will raise between Rs 822 crore and Rs 950 crore depending on the final issue price. The company gave Rs 47 (10 per cent to the floor price) discount to retail investors.
Founded by V.S.S. Mani, the company has already raised Rs 208 crore through issue of 39.37 lakh equity shares to 15 anchor investors at Rs 530 a share.
The company plans to list its shares on the NSE, the BSE and the MCX-SX.
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